Robinhood Markets (NASDAQ:HOOD) Stock Rating Upgraded by Barclays

Robinhood Markets (NASDAQ:HOOD) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $49.00 price target on the stock, up from their previous price target of $26.00. Barclays‘s price objective suggests a potential upside of 31.16% from the stock’s current price.

A number of other equities analysts also recently issued reports on HOOD. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. KeyCorp upped their price target on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. JMP Securities upped their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Piper Sandler upped their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Sanford C. Bernstein upped their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.13.

Robinhood Markets Stock Down 5.5 %

Robinhood Markets stock opened at $37.36 on Monday. The business has a fifty day moving average of $30.71 and a two-hundred day moving average of $24.65. The firm has a market cap of $33.03 billion, a P/E ratio of 63.32, a P/E/G ratio of 0.93 and a beta of 2.08. Robinhood Markets has a twelve month low of $10.38 and a twelve month high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. Equities analysts expect that Robinhood Markets will post 0.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the completion of the sale, the director now directly owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. This trade represents a 9.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,851,175 shares of company stock worth $169,980,708. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently made changes to their positions in the company. Baker Avenue Asset Management LP grew its stake in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after buying an additional 203,354 shares during the period. Bridgewater Associates LP lifted its holdings in shares of Robinhood Markets by 100.4% in the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock worth $7,751,000 after acquiring an additional 165,791 shares during the last quarter. EULAV Asset Management lifted its holdings in shares of Robinhood Markets by 22.2% in the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock worth $12,881,000 after acquiring an additional 100,000 shares during the last quarter. Blueshift Asset Management LLC lifted its holdings in shares of Robinhood Markets by 376.5% in the 3rd quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company’s stock worth $3,395,000 after acquiring an additional 114,525 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Robinhood Markets by 821.8% in the 3rd quarter. Quadrature Capital Ltd now owns 202,623 shares of the company’s stock worth $4,749,000 after acquiring an additional 180,641 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.